Home » 2017/2018 GE Model » Society and Behaviour » GESB1007 / GESB013 – Understanding Macroeconomic Policies
Suggested Year of Study:1 or 2
Duration:1 Semester
Credit Units:3
Offering Unit:FSS

Department of Economics

Medium of Instruction:English

Pre-requisites

None

Course Description

This course will introduce students to the study of macroeconomic policies by the government and central bank. Concepts such as national income, gross domestic product (GDP), unemployment, money, inflation, and exchange rate will be discussed. Fiscal policy from the government and monetary policy from the central bank will be introduced and their effects on these macroeconomic variables will be studied. The roles of macroeconomic policies in dealing with real-life economic problems, for example, fighting unemployment, curbing inflation, and so on will be analyzed. Interactions among different markets will be introduced to help students understand how macroeconomic policies work.

Intended Learning Outcomes (ILO)

1. Students will be able to explain GDP accounting.

2. Students will be able to describe the unemployment and inflation.

3. Students will be able to explain the fiscal and monetary policies.

4. Students will be able to describe the Classical and Keynesian model.

5. Students will be able to critically evaluate government policies.